History, asked by AnjaliGiri2002, 3 months ago

Explain the significance of classifying goods into final goods and intermediate goods ​

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Answered by Anonymous
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The underlying basis for classifying goods into final goods and intermediate goods is based on the fact whether the good has been purchased for 'ultimate consumption' or 'further processing'. If a goods has been purchased for ultimate consumption, say milk then it is regarded as a final good.

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